The Internet explosion of the mid-90's heralded a boom era in e-commerce and revolutionized forever the way in which consumers and businesses do their shopping. While such trailblazers as Amazon.com and eBay have provided consumers with an easy and efficient means of online purchasing, Cincinnati technology firm Vinimaya is providing the same for its Fortune 500 clients thanks to their patented search and catalog management technology for e-procurement.
Founded in 2000 by Mahendra Vora, Chairman of the Vora Group, a Cincinnati-based private equity firm, Vinimaya was originally established as a sophisticated search tool. Vinimaya's President, John Hutchinson, credits "market demand and improved technology" with the company's transformation into an industry forerunner with the introduction of its innovative, efficient, and cost-effective B2B software - Smart Marketplace Technology™ (SMT).
Designed with the end-user in mind, Vinimaya SMT™ offers a familiar and user-friendly solution for corporate buyers similar to what they are accustomed to in their personal online shopping experiences. Users can readily search suppliers' e-commerce sites, industry marketplaces, supplier networks and catalogs and place orders from preferred vendors all in real-time.
In addition to the transactional cost savings realized through the use of the software, Vinimaya SMT™ also enables management to control the products and services being searched to ensure that employees are taking advantage of contracted rates. Clients also benefit from the ability of the software to monitor critical spending data useful in company reporting, negotiating and forecasting.
According to Hutchinson, Cincinnati was an easy choice when it came to relocating Vinimaya headquarters earlier this year from its original home in Connecticut.
"In addition to the huge value in being co-located with our parent company - the Vora Group - and several sister companies that are based here in Cincinnati," says the company president, "the city also offers a tremendous amount of talent, a nice atmosphere and an attractive cost of living."
With strong and favorable response from their corporate clients (including Siemens, 3M, McDonald's, Alcoa, and Corning), and plans for future hiring and "increased cash flow, revenue, profits and head count" over the last year, it appears that Vinimaya's procurement capabilities have also succeeded in acquiring a promising future for the young company.
Sources: John Hutchinson, President and Erinn Tarpey, Director of Marketing- Vinimaya, Inc.
Writer: Alyce VilinesPhoto of John Hutchinson (provided)